ED » Topics » Option Grants In Last Fiscal Year (2004)

This excerpt taken from the ED DEF 14A filed Apr 5, 2005.

Option Grants In Last Fiscal Year (2004)

 

Name


   Number of
Shares
Underlying
Options
Granted

   % of Total
Options
Granted to
Employees
In 2004

 
 
 
 
 

   
 

Exercise or
Base Price

   Expiration
Date

    
 

 

Grant Date
Present

Value(1)

Eugene R. McGrath

   —      —         —      —        —  

Kevin Burke

   59,000    4.4 %   $ 43.63    2/12/2014    $ 340,440

Joan S. Freilich

   —      —         —      —        —  

John D. McMahon

   35,000    2.6 %   $ 43.63    2/12/2014    $ 180,600

Stephen B. Bram

   —      —         —      —        —  

 

 
  (1)   The grant date present values were calculated using the Black-Scholes option-pricing model applied as of the grant date (February 12, 2004). The values generated by this model depend upon the following assumptions: an expected life of six years after the grant date; a constant dividend yield on the underlying stock of 5.66 percent; an assumed annual volatility of the underlying stock of 21.44 percent; and a risk-free rate of return for the option period of 3.35 percent. The market value on the grant date is the closing price of the Common Stock on the day preceding the grant date. No discount was made for restrictions on transfer or vesting.

 

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